What is FICA tax?
Quick Answer
FICA (Federal Insurance Contributions Act) is the payroll tax funding Social Security (6.2%) and Medicare (1.45%). Employees pay 7.65% of wages; employers match. Self-employed pay both halves (15.3%) as self-employment tax.
Warren Team
Updated January 5, 2026
34
Warren Team
Updated January 5, 2026
34
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